The recovery factor is based on historical Cuban recovery of 4.6-4.8% with heavy oil in tight reservoirs. Basically with the fracture network and lighter oil with high pressure we should atleast get 15% recovery. So I think we are pretty undervalued at these conservative figures, we could easily have 300mmbo in Amistad based on the net reservoir increase and then multiplied by the better recovery factor if it proved accurate. Hence we could be considerably north of 500mmbo in Amistad.
When management say this discovery is globally significant it’s not an understatement. I see similarities to other major carbonate platforms like those in the Middle East. The oil window could be down to 5-6km depth and hence Marti could extend deeper or further potential below exists.
